Granite Construction Incorporated (GVA)
Inventory turnover
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 3,503,189 | 3,300,403 | 3,239,119 | 3,134,457 | 3,088,188 | 2,547,871 | 2,624,725 | 2,815,901 | 2,949,788 | 3,738,859 | 3,847,869 | 3,820,436 | 3,831,032 | 3,697,544 | 3,616,344 | 3,618,353 | 3,567,232 | 3,547,038 | 3,469,591 | 3,365,525 |
| Inventory | US$ in thousands | 103,898 | 92,131 | 92,151 | 97,893 | 86,809 | 81,296 | 78,634 | 74,356 | 61,965 | 77,412 | 66,584 | 65,977 | 62,471 | 102,111 | 105,023 | 98,765 | 88,885 | 95,442 | 101,686 | 96,862 |
| Inventory turnover | 33.72 | 35.82 | 35.15 | 32.02 | 35.57 | 31.34 | 33.38 | 37.87 | 47.60 | 48.30 | 57.79 | 57.91 | 61.32 | 36.21 | 34.43 | 36.64 | 40.13 | 37.16 | 34.12 | 34.75 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $3,503,189K ÷ $103,898K
= 33.72
Granite Construction Inc.'s inventory turnover ratio has shown consistent fluctuations over the past eight quarters. The ratio has ranged between 29.34 and 34.91, with a notable peak in Q1 2022 and a slight dip in Q4 2023. Generally, the company is managing its inventory efficiently, as evidenced by the high turnover numbers which indicate that inventory is being sold and replenished regularly. However, the variations in the ratio over time suggest some level of inconsistency in managing inventory levels. It would be important for Granite Construction Inc. to further analyze the factors impacting inventory turnover to maintain optimal efficiency in its operations.
Peer comparison
Dec 31, 2023
Dec 31, 2023